24 June 2010
our company have give a single person one emplyoee salary 18000/- he demanding no tds deducted on his source of income what form who will taken from him and necessary paper for non deduction(TDS)
alwasy thks for your prompt reply and appreciate valueable information.
24 June 2010
iN CASE OF EMPLOYEE, YOU CAN DEMAND HIM DECLARATION FOR TAX SAVING AND OTHER INCOME. IT MAY BE , HE IS DEAMNDING TO NON-DEDCTION OF TDS DUE TO INVESTMENT. BECAUSE TOTAL SALARY = 18000*12= 216000 - Conveyance allowance 800*12 =9600 - Hra exemption claimed = it may be exempt upto HRA paid ASSUMED 2000 PM = 24000/- TOTAL GROSS SALARY = 182400 DEDUCTION U/S 80 C PF = LIC TUTION FEE = ASSUMED TOTAL 30000 = 30000 NET TOTAL INCOME - 152400/- WHICH IS BELOW TAXABLE LIMIT. HENCE YOU HAVE TO DEMAND DECLARTION OF TAX SAVINGS FORM HIM.